Today's News

FINANCE:

TREASURER JOHN MACK says that about two-thirds of NationsBank's Corp. second $3 billion shelf registration of the year will be used to support its capital-intensive finance companies. Back page

THE FED and the New York State Banking Department have ordered Daiwa Bank Ltd. to curtail its trading activities because of a lack of promptness in reporting a $1.1 billion trading loss. Back page

WASHINGTON:

CHARLES KEATING, Montgomery Securities, and First Pacific Bank are among litigants that will not make it to the Supreme Court this year. The justices rejected without comment these and some 1,500 other appeals filed during the summer. Page 2

THREE APPELLATE court judges have been hashing over the meaning of 17 words in the Federal Credit Union Act to determine whether the government's expansion policy is legal. Page 4

SMALL BUSINESS:

THANKS TO the intercession of a powerful committee chairman, it appears the Small Business Administration will be able to keep funding loans at its current levels. Page 6

COMMUNITY BANKING:

BOSTON BANCORP has named a new top executive almost eight months after its top two officials resigned following regulatory criticism. The move could put to rest rumors the thrift company is preparing to sell. Page 10

MORTGAGES:

LATIN AMERICA looks like the next frontier for mortgage banks. A few, including Weyerhaeuser and Inland, are already making preparations to cross the border. Page 14

LENDERS have been rushing to originate and close adjustable-rate Veterans Administration mortgages for the last few weeks, and overall originations in the sector figure to show a bulge for the period. Page 14

INVESTMENT PRODUCTS:

NEARLY 60 bank mutual fund specialists learned last week that life after Glass-Steagall reform may be less rosy than they had hoped. Page 9

CREDIT/DEBIT/ATMs:

WELLS FARGO Bank has introduced a credit card that rewards small- business owners with air miles for making purchases on the card. But there is some question whether the benefits outweigh the costs. Page 16

REGIONAL BANKING:

TAKING ADVANTAGE of the banking crisis in Argentina, Citicorp is bidding to acquire some of the operations of troubled Banco Federal Argentino. Page 5

BANKAMERICA Corp. has begun a campaign to sell more banking services to midsize companies in areas where it doesn't have branches or offices. Page 5

TECHNOLOGY:

THE BREACH of Netscape Communications Corp.'s encryption system has increased concern about providing financial services over the Internet. But few expect that the incident will cause bankers to significantly curtail their involvement in on-line banking. Page 18

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